NOVA MSC BERHAD
11 Nov 2014
| Type | Reply to query |
| Reply to Bursa Malaysia’s Query Letter – Reference ID | NM-141110-63901 |
| Subject | UNUSUAL MARKET ACTIVITY |
| Description | NOVA MSC BERHAD – Reply To Query |
| Query Letter Contents | We draw your attention to the recent rise in price and volume of your Company’s shares (“trading activity”).
In light of the above and in order for investors to be able to make informed investment decisions, you are requested to respond, after making due enquiry with your directors, major shareholders and such other relevant persons, to the following queries immediately for public release in accordance with Rule 9.11 of ACE Market Listing Requirements (“LR”):- 1. whether there is any corporate development relating to your Group’s business and affairs that has not been previously announced that may account for the trading activity including those in the stage of negotiation/discussion. If yes, kindly provide the details including status of the corporate development to enable investors to make informed investment decision; 2. whether there is any rumour or report concerning the business and affairs of the Group that may account for the trading activity and in this respect, you are required to comply with Rules 9.09 and 9.10 of the LR; 3. whether you are aware of any other possible explanation to account for the trading activity; and 4. whether you are in compliance with the LR, in particular Rule 9.03 of the LR on immediate disclosure obligations. Please note that the contents of the announcement must be endorsed by the Board of Directors of the Company and the announcement must reach Bursa Securities immediately via Bursa LINK. Yours faithfully TAN YEW ENG TYE/NMA |
We refer to the letter dated 10 November 2014 from Bursa Malaysia Security Berhad (“Bursa Security”) in relation to recent rise in price and volume of the shares of Nova MSC Berhad (“NMSC” or the “Company”) recently (“Trading Activity”).
The Company would like to confirm that after making due enquiry with the Directors, major shareholders and other relevant persons of the Company seeking the cause of the Trading Activity, the Company wishes to advise that, with regards to the matters raised in the Bursa Securities’ letter:-
1. The Company is not aware of any corporate development relating to NMSC Group’s business and affairs that has not been previously announced that may account for the Trading Activity including those in the stage of negotiation/discussion.
The Company wishes to highlight that the Company is currently undertaking a proposed private placement of up to twenty percent (20%) of the issued and paid up share capital of the Company (“Private Placement”) whereby the shareholders of the Company had accordingly approved in an Extraordinary General Meeting held on 30 September 2014. The Company is in the midst of identifying placees pursuant to the Private Placement and will make the necessary announcements as and when the Company identifies these placees in accordance to the ACE Market Listing Requirement of Bursa Securities.
2. The Company is not aware of any rumour or report concerning NMSC Group’s business and affairs that would account for the Trading Activity; and
3. The Company is not aware of any other possible explanation that would account for the Trading Activity.
The Company also confirm that, to the best of its knowledge and belief, it is in compliance with the Ace Market Listing Requirement (“LR”), in particular Rule 9.03 of the LR on immediately disclosure obligation for any material information.
This announcement is dated 11 November 2014
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